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$Centogene (CNTG.US)$ CNTG.US 1.496-- +26.75% CNTG.US 1....

$Centogene (CNTG.US)$ CNTG.US

1.496--

+26.75%

CNTG.US

1.496--

+26.75%

CNTG.US

1.496--

+26.75%

Centogene to Get $30M Investment From Joint Venture With Lifera in Saudi Arabia

Dow Jones· 06/27 07:07

1min

Centogene(CNTG.US)

1.496

+26.75%

By Jeffrey T. Lewis

Centogene said Tuesday it will receive a $30 million investment as part of a new joint venture formed with Lifera to provide multiomic testing services.

Centogene, a Cambridge, Ma.-based pharmaceutical company, said the joint venture will be focused on providing multiomic testing services to patients, health systems, biopharma clients and research institutions in Saudi Arabia and countries of the Gulf Cooperation Council.

Lifera is a biopharmaceutical company that is wholly owned by Saudi Arabia's Public Investment Fund.

Multiomics is a form of analysis using information from several different specialties, such as genomics, epigenomics, or microbiomics, to study disease.

The $30 million will be set up as a mandatory convertible loan with a six-month term and a conversion price of $2.20 a share of Centogene's common stock, as well as significant JV performance-related milestone payments and revenue-based royalties until the year 2033, The U.S. company said.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

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